Erdemir’s 2020 sales rise to 8.5 million mt despite COVID-19 pandemic

Turkey’s largest integrated steelmaker, Oyak Maden Metalurji Group’s (Erdemir) sales in 2020 rose 2.4% year on year to 8.5 million mt despite the negative effects of COVID-19 pandemic, supported by strong market recovery during the fourth quarter.

The group sold 2.33 million mt of steel products in Q4 2020, up 13.1% on the year, while sales revenue from these sales reached $1.31 million, up 17.7% on the year.

Erdemir sold 7.5 million mt of flat-rolled steel in 2020. While the group’s flats sales to the domestic market were up by 7.2% on the year to 6.2 million mt, its total long product sales to the domestic market rose 11.8% on the year to 900,000 mt. Erdemir Group also exported 1.4 million mt of steel last year.

The group’s crude steel output totaled 8.53 million mt last year, down 0.9% year on year. The group produced 3.63 million mt of crude steel at its Eregli steelworks in 2020, up 18.3% year on year, while its larger Iskenderun works (Isdemir) produced 4.89 million mt, down by 11.6% on the year.

Isdemir paused one of its blast furnaces for maintenance at the beginning of April for about two months, S&P Global Platts reported earlier.

The group’s 2020 revenue reached $4.57 billion in 2020, while net profit totaled $472 million.

Erdemir Group is planning to raise its capacity further with new investments in the coming years, including two new blast furnaces at its Eregli and Iskenderun works.

Eregli steelworks produces hot-rolled, cold-rolled and galvanized coils, plate and tinplate, while Isdemir produces billet, wire rod and hot-rolled coils with a total crude steel production capacity of 9.1 million mt/year.

— Cenk Can